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Gold and Bitcoin: the Currencies of the Future — James Turk JT Long of The Gold Report (5/15/13) Europe, says James Turk, founder and chairman of GoldMoney, is in the midst of two crises—one in the banking sector, the other related to economic activity, and capital is needed to solve both. As to the allegedly strong dollar, Turk, in this interview with The Gold Report, suggests comparing it to the price of [...] The U.S. government had the ability to “react and respond” to the Benghazi terrorist attack and could have had forces on the ground before the second wave of the assault began, a special operator with knowledge of the response told Fox News in an exclusive interview. Due to the explosive nature of his allegations, the special ops member asked to remain anonymous. “I know for a fact that C 110 the [...] By Michael The next Great Depression is already happening – it just hasn’t reached the United States yet. Things in Europe just continue to get worse and worse, and yet most people in the United States still don’t get it. All the time I have people ask me when the “economic collapse” is going to happen. Well, for ages I have been warning that the next major wave of the ongoing [...] Recession Replaces Debt as Top EU Worry Amid Joblessness The EU is realizing that collapsing economies can’t pay what is owed. European leaders are loosening the economic shackles once demanded by Germany as the recession and mounting unemployment in southern Europe shove aside the debt crisis as the euro area’s biggest headache. A two-day Brussels summit starting today will endorse plans for “structural” assessments of national budgets, according to a draft statement, using code for granting countries such asFrance, Spain and [...] Mark Carney, chairman of the Financial Stability Board that seeks to bring reform and stability to world financial markets, said Wednesday night that the European Union is not solidly built and its full recovery is years away. Carney told a BBC TV interviewer that “it’s a huge concern” that there is a large decline in flows of credit from northern Europe (Germany) to indebted southern European countries, adding: “It’s a form of [...] From Bruce Krasting: So Mr. D spoke and said nothing at all. Those that expected a “big stick” from the boss at the ECB are very disappointed. The initial market reaction to this dud is a down move in equities and the euro while Italian and Spanish yields soar. Given the high expectations Draghi set the market up for, I can’t imagine a worse outcome. From Bruce Krasting: So Mr. D spoke and said nothing at all. Those that expected a “big stick” from the boss at the ECB are very disappointed. The initial market reaction to this dud is a down move in equities and the euro while Italian and Spanish yields soar. Given the high expectations Draghi set the market up for, I can’t imagine a worse outcome. Stomach bugs are being caused by a new bacteria group that has emerged in northern Europe due to manmade climate change, according to researchers. A paper written by a group of international experts offers some of the first firm evidence that the warming patterns of the Baltic Sea have coincided with the emergence of Vibrio infections in the north of the continent. Vibrios is a group of bacteria which usually grow in [...] Germany dismissed a rapid move toward direct bank recapitalization by the European rescue fund, limiting the tools for shoring up Spain’s banks as the euro-area debt crisis simmers. Finance Minister Wolfgang Schaeuble dismissed “false expectations” raised by euro leaders last month that the economically troubled euro zone would act quickly to unify the oversight of its banking system. “It will take time, it’s complicated, it isn’t easy to do,” Schaeuble told reporters before a meeting of [...] by Michael #1 The yield on 10 year Italian bonds has now risen to more than 6 percent. #2 The yield on 10 year Spanish bonds has now risen to more than 7 percent. This is considered to be an unsustainable level. #3 Citigroup Chief Economist Willem Buiter says that both Italy and Spain are going to need major bailouts. #4 The Spanish banking crisis continues to get worse. The following is from a CNN article that was posted on Monday…. But the depth [...] Now Spain, like much of the EU, faces the demographic consequences. The results have been transformative. In a half century Spain’s fertility rate has fallen more than 50% to 1.4 children per female, one of the lowest not only in Europe, but also the world and well below the 2.1 rate necessary simply to replace the current population. More recently the rate has dropped further at least 5 percent. Essentially, Spain and [...] Michael Snyder: When it comes to the financial world, it is important to listen to what the “smart money” is saying, but it is much more important to watch what the “smart money” is actually doing. The ultra-wealthy and those that run the biggest financial institutions on the planet are far more “connected” to what is really going on in financial circles behind the scenes than you and I could ever [...] Michael #1 Lloyd’s of London is publicly admitting that it is rapidly making preparations for a collapse of the eurozone. #2 According to the New York Times, top global law firms are advising their clients to withdraw all cash and all other liquid assets from Greece…. So their advice is blunt: Remove cash and other liquid assets from Greece and prepare to take a short-term hit on any other investments. “My personal view is that it is [...] Turmoil in Europe is coming to a head, and we will see a peak in the stress there in the next few months, Nomura analysts believe.
And ultimately, the only way out of the ensuing panic will be action from the European Central Bank. “Since last year we’ve had this idea that we’re going to be reaching a peak, that Q2/Q3 will be a decisive moment for the crisis in Europe,” Nomura’s Global Head [...] Don’t make the common mistake in translating the problems of the GIIPS to the whole of Europe. And of the GIIPS, Greece, Ireland and Portugal have very small populations and they represent just a few percent of the total European economy. Moreover, the whole of Northern Europe (except maybe for the UK), Scandinavia and Eastern Europe is fiscally sound. I’d say France and Belgium aren’t in any immediate threat either. [...] by Wolf Richter, Testosterone Pit AP Luxembourg Finance Minister Luc Frieden said it out loud: “If the Greek people or the Greek political elite do not apply all of these conditions … they exclude themselves from the Eurozone.” Allof these conditions. And there are a lot of them. Then he added the crucial words: “The impact on other countries now will be less important than a year ago.”
Playing for time had been the strategy all along. Governments [...] By Robin Emmott and Daniel Flynn BRUSSELS/PARIS — The euro zone economy shrank at the end of 2011 and will flirt with a mild recession under the weight of the sovereign debt crisis, but strength in France and resilience in Germany may keep it above water. The drag is coming from a stricken, debt-laden south, epitomized by a slumping Italy. Economic output in the 17-nation currency area fell 0.3 percent in the fourth quarter from the [...] Foreign-policy pundits increasingly argue that democracy and free markets could thrive without U.S. predominance. If this sounds too good to be true, writes Robert Kagan, that’s because it is. By ROBERT KAGAN History shows that world orders, including our own, are transient. They rise and fall, and the institutions they erect, the beliefs and “norms” that guide them, the economic systems they support—they rise and fall, too. The downfall of the Roman Empire brought [...] |
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